"A few weeks ago Bill Nye said he wanted bitcoin in his analog watch and that's exactly what I did," Reddit user Essofluffy said. "The NFC tag contains an address for the private key within. It can be scanned by any phone with an NFC reader."

Western Union vs. bitcoin community

Western Union has been attempting to quash a parody advert that depicts bitcoin as a superior money transfer method.

The parody advert highlights the benefits of using bitcoin(Western Union/ CC)

One Facebook user had the advert removed by moderators on the social media platform as a result of copyright infringement claims.

However such actions have been dismissed widely, with a consensus amongst the cryptocurrency community that the advert fits into the category of parody and therefore any copyright claims are unfounded.